Retail Giants and the Fed Take Center Stage in Wall Street's Busy Week

Wall Street is set for a busy week as major retailers Home Depot, Target, and Walmart release their latest earnings reports. The quarterly results will provide insight into how businesses and consumers are handling high inflation rates above 3%. Higher prices on gasoline, groceries, and shipped goods may prompt people to cut spending.

Home Depot's report on Tuesday is followed by Target on Wednesday, with Walmart releasing its figures on Thursday. The data will also offer a glimpse into the housing market, as Home Depot and Lowe's results are expected to shed light on whether people are spending more or less on home improvements.

The Federal Reserve's interest rate policy will be under scrutiny when it releases minutes from its July meeting on Wednesday. Although the Fed held rates steady in July amid inflation concerns, three officials dissented in favor of higher rates. Fed Chair Kevin Warsh described the discussion as a 'good family fight', but Wall Street expects at least one rate hike before 2026.